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Sri Lanka calls for liberalisation of trade with India

The Sri Lankan high commissioner to India Prasad Kariyawasam has called for the removal of bilateral trade barriers between Sri Lanka and India, reported the DailyMirror on Wednesday.

Speaking at an event in New Delhi, Kariyawasam said the liberalisation of trade could potentially double to $10m by 2016.

"Our target is that by 2016, the bilateral trade should be able to touch $ 10 billion...But for this, we need to liberalise tariff regimes on both the sides," Kariyawasam said.

"There are non-tariff barriers on the Indian side and few tariff barriers on the Sri Lankan side. So, such things have to be ironed out in such a manner that the trade becomes more balanced between the two countries."

Kariyawasam said that both countries are discussing the balancing of trade activity in the long term, adding that there is more room for Indian investment on the island in sectors such as infrastructure, tourism and services.

"We have a vibrant and brilliant economic partnership. Indian companies can use Sri Lanka as a launching pad for reaching to Asian and African nations," he said.

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